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There has been a lot of discussion regarding the 10 year rule now that the RDSP is more than 10 years in existence. Can a person with a RDSP that has government from 10 years ago withdraw it?

The short answer; Yes, however, you will lose 3x what you withdraw up to what the government has put in during the last 9 years.

The RDSP is a long term savings plan for Canadians that qualify for the Disability Tax Credit (DTC). To collect money from this plan without losing any of the government money will take at least 30 years (retroactive grants and bonds can shorten this timeframe) so that all of the money is theirs. OR at 60, as this is when the account starts paying out.

Please contact us if you are unsure of how the 10 year rule works.

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